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(...) Where was it ever written or explained that the way ebay is 'intended' to work is by bidding early and often? I would argue just the opposite. They are fixed end time auctions. The only thing that functionally has any meaning is being the high (...) (22 years ago, 20-Nov-02, to lugnet.market.theory)
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(...) Definitely agree-- For the sake of the buyers, snipe. It WILL result in lower prices, even though it shouldn't. That way people don't have a chance to change their minds and make the price go higher. For Ebay's sake (and for the seller's-- and (...) (22 years ago, 20-Nov-02, to lugnet.market.theory)
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(...) If the intent was for everyone to submit bids at the last possible minute, with no opportunity to react to others bids, then they could have chosen a completely standard auction format, the sealed bid auction. In a sealed bid auction, you may (...) (22 years ago, 20-Nov-02, to lugnet.market.theory)
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(...) Interesting idea. Escalating the bid increment would definitely help bring the auction to a close. Also, you're probably right that a few minutes is really all the auction has to be extended. Making the escalating bid increment be based on the (...) (22 years ago, 20-Nov-02, to lugnet.market.theory)
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(...) Yahoo! auctions has the 5 minute extension as an option, if the seller wants it. If a bid comes in during the last 5 min, the auction is extended. I rallied for it as an option at BrickLink, but no-go. Julie >Frank (22 years ago, 20-Nov-02, to lugnet.market.theory)
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(...) One would think that eBay would like the bidding to go on if the bids were coming reasonably fast, but at the moment the emphasis is on getting the auctions to cycle through quickly. Who knows? Maybe they have done tests and determined that if (...) (22 years ago, 20-Nov-02, to lugnet.market.theory)
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(...) (22 years ago, 23-Nov-02, to lugnet.market.theory)
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(...) Battle Chess, Interplay Productions, Software Publishers Association Award for Best Graphics (animated by Todd Camasta and Bruce Schlickbernd). Truly cryptic advertising bullet on the back of the box, "Drove two artists as mad as Paul Morphy." (...) (22 years ago, 23-Nov-02, to lugnet.market.theory)
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The problem with ebay is that it is trying to simulate a live auction (as opposed to a sealed bid auction) on a worldwide basis. Now a normal auction is held in one place and all the bidders (or their agents) are present throughout the auction. (...) (22 years ago, 24-Nov-02, to lugnet.market.theory)
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(...) Kerry, That's a really well written analysis. Some problems with open ended bidding: - a day may not be enough - too long an extension results in auctions which do drag out (Serious Collector had this problem as I have mentioned before) I (...) (22 years ago, 25-Nov-02, to lugnet.market.theory)
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